Common use of Junior Liens Clause in Contracts

Junior Liens. It being understood that B notes secured (and any other Purchased Assets that are cross-collateralized and/or cross-defaulted with a Purchased Asset) by the same Mortgage as a Mortgage Loan are not subordinate mortgages or junior liens, there are no subordinate mortgages or junior liens securing the payment of money encumbering the related Mortgaged Property (other than Permitted Encumbrances and the Title Exceptions, taxes and assessments, mechanics’ and materialmen’s liens (which are the subject of the representation in paragraph (7) above), and equipment and other personal property financing). Except as set forth on the related Purchased Asset Schedule, Seller has no knowledge of any mezzanine debt secured directly by interests in the related Borrower.

Junior Liens. It being understood that B notes secured (and any other Purchased Assets that are cross-collateralized and/or cross-cross defaulted with a Purchased Asset) by the same Mortgage as a Mortgage Loan are not subordinate mortgages or junior liens, except as set forth on the related Transaction Request, there are no subordinate mortgages or junior liens securing the payment of money encumbering the related Mortgaged Property (other than Permitted Encumbrances and the Title Exceptions, taxes and assessments, mechanics’ and materialmen’s liens (which are the subject of the representation in paragraph (79) above), and equipment and other personal property financing). Except as set forth on the related Purchased Asset ScheduleTransaction Request, Seller has to Seller’s Knowledge there is no knowledge of any mezzanine debt secured directly by interests in the related BorrowerMortgagor.

Junior Liens. It being understood that B notes secured (and any other Purchased Assets that are cross-collateralized and/or cross-defaulted with a Purchased Asset) by the same Mortgage as a Mortgage Purchased Loan are not subordinate mortgages or junior liens, except for any Junior Interests and Purchased Loan that is cross-collateralized and cross-defaulted with another Purchased Loan, there are are, as of origination, and to Seller’s Actual Knowledge, no subordinate mortgages or junior liens securing the payment of money encumbering the related Mortgaged Property (other than Permitted Encumbrances and the Title Exceptions, taxes and assessments, mechanics’ mechanics and materialmen’s materialmens liens (which are the subject of the representation in paragraph (75) above), and equipment and other personal property financing). Except as set forth on in the related Purchased Asset ScheduleDue Diligence Package, the Seller has no knowledge Actual Knowledge of any mezzanine debt secured directly by interests in the related BorrowerMortgagor.

Junior Liens. It being understood that B notes secured (by the same Mortgage as a Purchased Asset are not subordinate mortgages or junior liens, except for any Junior Interests and any other Purchased Assets that are cross-collateralized and/or cross-cross defaulted with a Purchased Asset) by the same Mortgage as a Mortgage Loan are not subordinate mortgages or junior liens, there are no subordinate mortgages or junior liens securing the payment of money encumbering the related Mortgaged Property (other than Permitted Encumbrances and the Title Exceptions, taxes and assessments, mechanics’ mechanics and materialmen’s materialmens liens (which are the subject of the representation in paragraph (7) above), ) and equipment and other personal property financing). Except as set forth on the related Purchased Asset ScheduleUnderwriting/Due Diligence Package, Seller has to Seller’s Knowledge there is no knowledge of any mezzanine debt secured directly by interests in the related BorrowerMortgagor.

Junior Liens. It being understood that B notes secured (and any other Purchased Assets that are cross-collateralized and/or cross-cross defaulted with a Purchased Asset) by the same Mortgage as a Mortgage Loan are not subordinate mortgages or junior liens, except as set forth on the related Transaction Request, there are no subordinate mortgages or junior liens securing the payment of money encumbering the related Mortgaged Property (other than Permitted Encumbrances and the Title Exceptions, taxes and assessments, mechanics’ and materialmen’s liens (which are the subject of the representation in paragraph (79) above), and equipment and other personal property financing). Except as set forth on the related Purchased Asset ScheduleTransaction Request, Seller has to Seller’s knowledge there is no knowledge of any mezzanine debt secured directly by interests in the related BorrowerMortgagor.